DAVID Walker from niche property agency David Walker Commercial, who specialise in Corby and its surrounding area, says business is moving on again after the uncertainties that surrounded Brexit throughout 2019.
After a year of government indecision, big business can at last plan for the future, meaning investment, and work for a raft of supporting trades and services.
The Corby property market followed the UK generally in slowing down during 2019, although there were few closures, so we start 2020 with little vacant space, and with increasing demand for both offices and industrial.
Corby sites are in a good place; industrial values are still relatively low, and infrastructure is improving. The industrial estates are planned, with good transport links and open green areas. The town is continuing to grow, the A43 Link Road has opened, the Corby West Urban Expansion approved, and Priors Hall is being built out.
With little property on the market, demand has edged industrial rents up and freehold prices higher.
David Walker reports rent growth on the improving St James Estate with recent lettings including Supacolour, part of an international group from New Zealand who offer water-based heat transfers that can be applied to nearly all fabric types. Their requirement for a larger power supply was met with a refurbished unit on St Marks Road, whilst another surplus warehouse adjoining Easystart is also under offer to another Company relocating into Corby.
Nearby, a former manufacturing and warehouse unit with large power supply is currently available either as a whole at 13,000 square feet or is now ready to be split from around 5,000 square feet with the recent installation of welfare facilities in each part of the building.
Starter units as always, are in demand and David Walker reports lettings as soon as units become available.
Apart from large strategic sites, small industrial plots are in short supply. A site without planning on Oakley Hay has recently been sold by David Walker who reports that multiple offers were received from both occupiers and developers.
David Walker Commercial also continue to be the most active agent on the Corbygate Business Park. With the flexible two-storey layout, Corbygate offices also suit other mixed uses, with recent lettings being to a variety of marketing, IT and other office uses, together with electrical and plumbing trades needing a mix of office with some storage. Only one property of 1,680 square feet is currently available, in Perth House, at a rent of £11,000 per annum, offering first floor offices with a flexible ground floor that could be used for office, studio, storage or even light assembly.
Elsewhere, on Earlstrees Court, David Walker let a detached office of 4,210 square feet following the relocation of UK Innovations, and have completed lettings of various size offices at Oakley Hay.
Outside of the town centre, Corby also has a fairly buoyant retail market, where shops at affordable rents continue to be in demand. David Walker Commercial have been active in Corby Old Village, with lettings in the High Street and in Tunwell Lane, including the relocation of Oakley Grooming into larger High Street premises, followed by the immediate letting of their old shop.
With limited availability, and deep knowledge of the local market, David Walker has also assisted occupiers in negotiations to acquire premises, including valuation advice and the preparation of Schedules of Condition.
David Walker Commercial are specialist commercial property agents, dealing with all types of commercial land and buildings in Corby, Market Harborough and North Northamptonshire. Contact the firm for plain advice, free market appraisals, and professional valuation reports, Schedules of Condition and dilapidations, rent reviews and lease renewal advice and expert reports, on 01536 771588, email or visit the website www.davidwalkercommercial.co.uk